Hierarchy of Tax Deferral Strategies
By Mallon FitzPatrick, CFP As published in Rethinking65 June 30, 2022 – You cannot control market behavior, but you do hold sway over how you manage taxes, which reduce investment returns on portfolios and are often compounded by state taxes. Determining the optimal tax deferral strategies depends on your income, net-worth and estate planning objectives. […]
Mallon FitzPatrick in FA Magazine
June 21, 2022 Principal and Managing Director, Mallon FitzPatrick was featured in Financial Advisor Magazine discussing how “High- And Ultra-High-Net-Worth Clients Require an Innovative Approach.” Mallon said, “Not all high and ultra-high-net-worth and family office clients are receptive to wealth planning, at least initially.” Read the full piece here: https://bit.ly/3b9LKCZ
Mallon FitzPatrick in Financial Advisor
Mallon FitzPatrick was featured in Financial Advisor discussing “Tax Changes Could Spell Trouble For Clients Who Pay Domestic Staff.” “Household staff, whether babysitters, nursing aides, gardeners, or housekeepers, are often paid in cash and employees are expected to self-report their income,” says FitzPatrick. Read the full piece here: https://bit.ly/3atQ3sB
Mallon FitzPatrick in Financial Planning
Mallon FitzPatrick was featured in Financial Planning discussing “How financial advisors can help clients with retirement by planning early.” Read the full piece here: https://bit.ly/3FDmyQJ
Converting to a ROTH? You May Want to Think Twice
By Mallon FitzPatrick, CFP April 27, 2022 – If clients know one thing about the difference between a traditional individual retirement account (IRA) and a Roth IRA, it’s typically that the former enables “tax-deferred” contributions while the latter is designed for “after-tax” contributions. Simply put, if you believe your income tax rate is going to […]
Estate Planning Mistakes of the Rich and Famous
April 13, 2022 – In my years of advising clients on financial topics, there are two areas of utmost importance where many clients “drag their feet:” maintaining adequate life insurance and having an estate plan. Considering one’s mortality is difficult and unpleasant. Another common reason for not having an estate plan in place is […]
Securing a Strong Retirement Act of 2022
April 6, 2022 – Last Tuesday, the House passed the “Securing a Strong Retirement Act of 2022”, otherwise known as the SECURE Act 2.0. The bill passed with overwhelming bipartisan support and is expected to receive similar acceptance in the Senate. Click here for the main provisions of the Act. We will continue to monitor […]
P&C rates have soared: Here’s what you need to know
By Mallon FitzPatrick, CFP March 30, 2022 – Property and casualty (P&C) policies in high-risk areas popular among wealthy property owners have become unusually expensive and increasingly hard to get. That’s because a spike in major loss events such as tornados, torrential rains, and wildfires has left insurance companies with record pay-out amounts, and they […]
Women Can Find New Voice as Rising Power Donors With a ‘DAF’
By Lauren Sigman, CFP and Karen McClintock, CFA March 21, 2022 – Several months ago, a director who sits on a number of nonprofit boards shared an eye-opening story with us concerning an organization’s recent fund-raising activity. A development officer from a board had received a bizarre call, possibly a hoax, last year from someone […]
When Markets Roil… Stop, Drop and Run Simulations
By Mallon FitzPatrick, February 28, 2022 Record-high inflation, rising interest rate fears and spiking geopolitical risk over turmoil in Ukraine are an obvious recipe for market volatility. For rattled investors, it may be beneficial to shift your focus from the short-term clamour to the long-term horizon, particularly if you experience stress from dramatic market swings. […]
Taking Assets Off The Table
Febuary 1, 2022 – Mallon FitzPatrick was featured in FA Magazine where he discussed asset protection trusts being “part of building a strong liability shield.” Read the full article here
Why I Need a Wyoming Trust!
By Mallon FitzPatrick, CFP® January 27, 2022 – Ever fear you might be missing out on a good opportunity to save on income taxes by transferring assets to a trust in another state? You’re not alone. I’ve counseled more than a few clients suffering from a case of “trust FOMO (Fear Of Missing Out).” Some […]